Reply To: Traders Market Weekly: Only a Sheep Lets Himself be Sheared

#34577
Truman
Participant

S&P 500 futures 1.5% above fair value; Nasdaq 100 futures 1.9% above fair value; DJIA futures 1.5% above fair value
Key factors driving the futures market:

Talks between Russia and Ukraine reportedly making progress toward compromises
Chinese stocks surge (U.S.-listed ones, too) after Chinese authorities reportedly express support for stable equity markets
Speculation that stock market has priced in rate hikes and will rally after Fed announces actual rate hike today (sell the rumor, buy the news mentality)
Strength in mega-cap stocks

FOMC policy decision at 2:00 p.m. ET; Fed Chair Powell’s press conference at 2:30 p.m. ET
Hong Kong’s Hang Seng Index soars 9.1% as U.S. and China reportedly move closer to cooperation plan on Chinese listings; China signals crackdown on Internet platform companies could be ending soon
Starbucks (SBUX) CEO Kevin Johnson to retire April 4; Howard Schultz to step in as interim CEO